Hair Restoration Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Hair Restoration Services Market is Segmented by Recipient Area (Scalp and Non-scalp), Treatment (Follicular Unit Extraction (FUE), Follicular Unit Transplant (FUT), Laser Therapy, Stem Cell Therapy, and Other Treatments), End User (Hospitals, Clinics, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the market size in value terms in USD for all the abovementioned segments.

Hair Restoration Services Market Size

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Hair Restoration Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 6.91 Billion
Market Size (2029) USD 10.61 Billion
CAGR (2024 - 2029) 8.96 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Hair Transplant Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Hair Restoration Services Market Analysis

The Hair Restoration Market size is estimated at USD 6.91 billion in 2024, and is expected to reach USD 10.61 billion by 2029, growing at a CAGR of 8.96% during the forecast period (2024-2029).

The impact of COVID-19 was adverse on the hair restoration market, owing to the cancellations in cosmetic procedures globally, including hair restoration procedures. However, as restrictions have eased, hair transplant clinics have reopened and resumed their operations. The increased use of telemedicine and virtual consultations allowed hair transplant clinics to continue providing their services to patients remotely, minimizing the impact of the pandemic on their businesses. 

The pandemic highlighted the importance of personal appearance and grooming, as many people spent more time at home and on video calls. As a result, there has been an increased demand for hair restoration procedures, particularly hair transplant surgeries, as people seek to improve their appearance and confidence. Several studies reported that hair loss was a side effect of COVID-19, which impacted the growth of the market studied. For instance, according to an article published by NCBI in May 2022, many COVID-19-infected patients had significant hair loss. The study found that one to two months after a COVID-19 infection, COVID-19-associated telogen effluvium (excessive hair shedding) occurred.

The key factors propelling the growth of the hair restoration market are the increasing popularity of hair transplants and the increasing prevalence of various forms of dermatological disorders leading to hair loss. For instance, according to the research study published by NCBI in April 2022, the prevalence of alopecia areata is 0.2% in the current year, and it can afflict people of any race or sexual orientation and common condition. Androgenetic alopecia affects 15% of women and 50% of men, particularly postmenopausal women. The high number of chemotherapies being performed around the world to treat cancer and the increasing burden of cancer is expected to increase the number of hair restoration procedures.

According to the 2021 report of the United Kingdom Hair Transplant Statistics, alopecia or hair loss affects about 21 million women and 35 million men across the world, and over 650,000 of them get hair transplants as the most effective treatment option yearly. As per the same source, hair transplant surgery is gaining traction around the world, which is expected to boost the market's growth.

Technological advancements in hair transplant devices and the launch of new services across the world are expected to have a significant impact on the hair transplant market and boost the market's growth. For instance, in April 2022, HHC (Hermest Hair Clinic) launched cost-effective and unique follicular unit extraction (FUE) method service for hair transplants in Turkey. Such developments are estimated to propel the market's growth during the forecast period.

Therefore, due to the above-mentioned factors, the hair restoration market is expected to grow during the forecast period. However, cost constraints and high post-surgery care, along with adverse side effects, are the factors that are expected to restrain the hair restoration market.

Hair Restoration Services Market Trends

Scalp Segment is Expected to Hold a Significant Market Share

The scalp segment of the hair restoration market is anticipated to account for a major market share during the forecast period. The target population for this segment includes men suffering from pattern baldness, women with thinning hair, and victims of scalp or burn injuries.

Owing to the increasing popularity of the scalp treatment segment, the market players are strategizing to increase their market share and are coming up with innovative products and seeking approvals. For instance, in April 2022, ExoCoBio Inc. launched ASCE HRLV for scalp rejuvenation and hair loss. ASCE+ HRLV is targeted for the scalp rejuvenation and hair loss market and is expected to rapidly expand its market share by introducing four effects: scalp rejuvenation, hair loss care, improvement of hair anti-aging, and trouble prevention. It is designed to care for scalp and hair regardless of age and gender.

In December 2021, QR 678 Neo, a hair loss treatment, was launched in the United Kingdom. The FDA-approved and patented product claimed to offer over a 90% success rate, and it is a nonsurgical alternative with economical prices starting from around a fifth of the cost of a hair transplant. Owing to the advantages offered by such products for scalp nourishment and reducing hair loss, the scalp segment is expected to witness lucrative growth during the forecast period.

Hair Restoration Market: Estimated Percentage of Plastic Surgeons Performing Hair Transplant Surgical Procedure, By Country, 2022

North America is Expected to Hold a Significant Market Share

North America is expected to hold a significant share of the hair restoration market due to the presence of a large target population base in this region and technologically advanced clinics. For instance, according to ISHRS, 149,254 hair transplants were performed in Canada and the United States in 2021, a decrease of 22% compared to the previous year due to the restrictions imposed by the COVID-19 pandemic. However, the number of hair transplants is estimated to rise in the current year as the restrictions have been lifted, which is anticipated to drive the growth of the hair restoration market during the forecast period.

The rising number of hair transplant surgeries and the presence of many market players in the region are also giving rise to the number of product launches and expansions in the market. For instance, in July 2021, Stemson Therapeutics received a DCVC Bio-led USD 15 million Series A financing to advance the development of Stemson's proprietary therapeutic solution to cure hair loss. The funding is estimated to boost technological advancements in products and increase the demand for hair restoration products and services in the region during the forecast period.

 Hair Restoration Market- Growth Rate by Region

Hair Restoration Services Industry Overview

The hair restoration market is fragmented in nature due to the presence of many companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold market shares and are well known. Some key players are Bernstein Medical, Cole Hair Transplant Group, Elite Hair Restoration, Aderans (Hair Club), Hairline International Hair and Skin Clinic, Apira Sciences Inc. (iGrow Laser), Lexington Intl. LLC, Illumiflow, National Hair Centers, NovaGenix, Theradome, and Venus Concept.

Hair Restoration Services Market Leaders

  1. Theradome

  2. Igrow

  3. Venus Concept

  4. Illumiflow

  5. NovaGenix

*Disclaimer: Major Players sorted in no particular order

Hair Restoration Market Concentration
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Hair Restoration Services Market News

  • In February 2023, HairClub, expanded its facility in Florida, United States, for residents seeking hair loss solutions.
  • In April 2022, HermestHair Clinic (HHC) launched cost-effective and unique follicular unit extraction (FUE) method service for hair transplants in Turkey.

Hair Restoration Services Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Popularity of Hair Restoration

      2. 4.2.2 Increasing Prevalence of Various Forms of Dermatological Disorders Leading to Hair Loss

    3. 4.3 Market Restraints

      1. 4.3.1 Cost Constraints

      2. 4.3.2 High Post-surgery Care along with Adverse Side Effects

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Recipient Area

      1. 5.1.1 Scalp

      2. 5.1.2 Non-scalp

    2. 5.2 By Treatment

      1. 5.2.1 Follicular Unit Extraction (FUE)

      2. 5.2.2 Follicular Unit Transplant (FUT)

      3. 5.2.3 Laser Therapy

      4. 5.2.4 Stem Cell Therapy

      5. 5.2.5 Other Treatments

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

      3. 5.3.3 Other End Users

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bernstein Medical

      2. 6.1.2 Cole Hair Transplant Group

      3. 6.1.3 Elite Hair Restoration

      4. 6.1.4 Aderans (Hair Club)

      5. 6.1.5 Hairline International Hair and Skin Clinic

      6. 6.1.6 Apira Sciences Inc (iGrow Laser)

      7. 6.1.7 Lexington Intl. LLC

      8. 6.1.8 Illumiflow

      9. 6.1.9 National Hair Centers

      10. 6.1.10 NovaGenix

      11. 6.1.11 Theradome

      12. 6.1.12 Venus Concept

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Hair Restoration Services Industry Segmentation

As per the scope of the report, hair restoration is a procedure in which the hair is moved from the back and sides of the scalp, where the hair is permanent (donor area), to the areas that are thinning or bald on the front, top, or crown of the scalp (recipient area). Once transplanted, the hair is likely to grow normally. 

The hair restoration market is segmented by recipient area (scalp and non-scalp), treatment (follicular unit extraction (FUE), follicular unit transplant (FUT), laser therapy, stem cell therapy, and other treatments), end user (hospitals, clinics, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the market size in value terms in USD for all the abovementioned segments.

By Recipient Area
Scalp
Non-scalp
By Treatment
Follicular Unit Extraction (FUE)
Follicular Unit Transplant (FUT)
Laser Therapy
Stem Cell Therapy
Other Treatments
By End User
Hospitals
Clinics
Other End Users
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Hair Restoration Services Market Research FAQs

The Hair Restoration Market size is expected to reach USD 6.91 billion in 2024 and grow at a CAGR of 8.96% to reach USD 10.61 billion by 2029.

In 2024, the Hair Restoration Market size is expected to reach USD 6.91 billion.

Theradome, Igrow, Venus Concept, Illumiflow and NovaGenix are the major companies operating in the Hair Restoration Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Hair Restoration Market.

In 2023, the Hair Restoration Market size was estimated at USD 6.34 billion. The report covers the Hair Restoration Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hair Restoration Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Hair Transplant Industry Report

Statistics for the 2024 Hair Restoration market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hair Restoration analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Hair Restoration Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)